Restaurant Management Startup Lunchbox Raises $50M To Improve Efficiency In The Restaurant Industry!

Since many restaurants were forced to rely solely on delivery and takeout during the pandemic, there’s been a lot of debate over whether the sector can thrive while paying huge fees to delivery companies like Uber Eats and Grubhub.

Restaurant Management Startup Lunchbox is a digital media firm that aims to improve the restaurant sector by providing a variety of software management services and restaurant-specific technologies. They enable restaurants to create native ordering experiences on their own websites and mobile applications. The firm just announced the completion of its Series B fundraising round, which will be used to develop new commercial collaborations and incorporate new technology into existing solutions.

The company competes in the worldwide restaurant management software industry. By 2025, it is expected that the market would be worth about $7 billion. At a compound annual growth rate of 14.6 per cent, this amount is likely to be fulfilled. According to CEO Nabeel, the $50 million will be spent in a variety of ways as it pursues a larger market.

It will also invest in the development of technologies that will allow restaurants to do much more—an “end-to-end” digital storefront. Lunchbox will actively pursue an acquisition, particularly of a firm that can assist it in attracting large retail partners.

“We want to consolidate the industry, we are still a tiny company and we want to convince our peers that we are stronger together,” Nabeel said as he spoke to the media regarding the expansion plans.

Through its software, Lunchbox offers restaurant owners all of the tools they need to boost sales, the ordering process, and long-term growth. The firm offers a variety of online services, including ordering, marketing, loyalty, and design.

While restaurants may not be ready to completely ditch third-party delivery systems, these alternatives enable them to provide a more personalized delivery experience. Nonetheless, if they can handle more online orders directly, they’ll be able to make more money while still retaining direct contact with their most loyal clients, such as by offering targeted deals.

For the ordering process, the digital firm offers solutions that can be readily integrated into both a website and an app for a more convenient ordering experience. Lunchbox also helps restaurant groups, malls, and even food truck gatherings using their technology.

Through collaborations with Sodexo and Kiwibot, the business has been experimenting with fully independent delivery, and it recently teamed with SBE to create a “virtual food hall” or a multi-restaurant ordering system where consumers can bundle food orders from many restaurants into a single order. The diners can pay for them all with a single swipe. Lunchbox also accepts orders via a subscription model, in which consumers can avail prepaid plans for a month’s worth of meals.

Actionable data insights, targeted email alerts for subscribers, text notifications, and SEO-driven social media postings are among the marketing tools offered by the tech start-up. Lunchbox also has a variety of loyalty schemes in place to encourage customers to keep coming back.

Finally, the company provides restaurant owners with a set of design tools for creating branded digital material that is suitable for the variety of cuisine served and the restaurant’s aesthetic.

“The outfit and the mindset you have when going out to eat is different from when you eat at home and watch Netflix in your pyjamas, those are different kinds of dinners, and with off-premise dining, there’s an opportunity to innovate significantly,” said Nabeel.

 

Source Links:

Stephan Soroka | LinkedIn

Lunchbox raises $20M to help restaurants build their own ordering experiences | TechCrunch

Lunchbox Founder Focuses on Breaking Third-Party Dependence – Food On Demand (foodondemandnews.com)

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